i earned ltcg on principal protected NCD's inlast A.Y.2014-15.i paid 10.3% tax on them. i also had short term capital losses of previous years<8 years duration which i was carrying forward in my returns.
could i have set off old short term losses against long term capital gains.and not pay tax as i have paid. losses were more than gains.
can i rectify them now by revised returns any claim refund.
Yes you could have set off the previous losses if
1. if you had filed the returns for those respective years on time i.e within due date and
2. the losses were mentioned in the return filed by you.
You cannow revise your return only if you had filed Ay 14-15 return before 31/7/2014.
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